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Tax on backpay

Posted 10 June 2016 under Tax Questions



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Lol says:
9 June 2016 at 17:26

Im supposed to get a back pay at the end of June owed to me from September 2016. The total amount im expecting is 63000 before tax. Exactly how much will I be taxed?

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TaxTimTaxTim says:
10 June 2016 at 10:13

This will be added to your normal salary and then it will be taxed at your marginal rate of tax.
Please see our SARS income tax calculator. It may result in you overpaying tax for that month however, if this is the case, you can claim it back when you submit your tax return.


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